The Plenary of the Federal Senate decided to postpone the vote on 182 / 2024 Bill, which establishes and regulates the carbon credit market in Brazil. At the initiative of the president of the House, Rodrigo Pacheco (PSD-MG), and with the of government and opposition leaders, the analysis was postponed until next Tuesday (12).
Pacheco claimed that, although there is friction due to the postponement of the vote, the project deserves to be considered by a full plenary. This would be impossible on Tuesday, since the National Congress is preparing to host, tomorrow (6), the 10th Summit of the Presidents of the G-20 Parliaments (known as P-20). The event will take place until Friday (8), and emptied the legislative sessions this week.
Last Tuesday (5), the Senate approved that the PL 182 / 2024 be processed as a matter of urgency, to speed up the agenda. In 24 hours, it has already received 24 plenary amendments, which contributed to the postponement for a week. The agreement proposed by Pacheco had the approval of the rapporteur, Leila Barros (PDT-DF), who had not yet presented an opinion.
The bill, approved in May by the Chamber of Deputies, proposes the alteration of important laws, including the Public Registry and Forest Code. It also creates the SBCE (Brazilian Greenhouse Gas Emissions Trading System).
The aim is to regulate the carbon credit market in Brazil, allowing companies to offset their emissions by purchasing credits linked to environmental preservation initiatives.
The original text divides the carbon credit market into regulated and voluntary sectors. The former involves government initiatives and follows rules signed at COP3 in 1997, while the latter concerns the private sector, with more flexibility and without imposed standardization.
Organizations subject to this regulation – those that emit more than 10 tons of carbon dioxide per year – will be required to provide a monitoring plan and reports on their activities to the governing body, which is responsible for creating the rules and applying sanctions to these entities. However, the legislation does not affect agribusiness.
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